BrightSpire Capital, Inc. (BRSP) vs KKR Real Estate Finance Trust (KREF)

BrightSpire Capital, Inc. and KKR Real Estate Finance Trust are both Reit Mortgage companies. BrightSpire Capital, Inc. is the larger, with a market value of $517.5M against $369.4M — 1.4× the size. BrightSpire Capital, Inc. grew revenue faster over the last twelve months: 4.70% against −24.3%. BrightSpire Capital, Inc. has the higher net margin (−13.1% vs −173.6%) and the higher return on invested capital (−0.73% vs −2.26%). Both pay a dividend; BrightSpire Capital, Inc. yields more (12.0% vs 11.8%). Across the 20 metrics below, BrightSpire Capital, Inc. leads on 17 and KKR Real Estate Finance Trust on 3.

Valuation

Metric BRSP KREF Reit Mortgage median
P/E n/m n/m 7.80
P/S 2.54 3.32 1.90
P/B 0.61 0.40 0.61
Price to free cash flow 2.96 16.18 5.90
EV/EBITDA 199.78 n/m 28.40
EV/Sales 13.12 38.70 16.02
Earnings yield (5.62%) (51.65%) 7.68%
Free cash flow yield 33.81% 6.18% 11.60%

Profitability

Metric BRSP KREF Reit Mortgage median
Gross margin 61.90% 100.00% 100.00%
Operating margin (17.17%) (157.87%) 35.40%
Net margin (13.14%) (173.57%) 11.85%
Free cash flow margin 85.71% 20.50% 26.68%
Return on equity (2.92%) (18.18%) 4.81%
Return on assets (0.75%) (3.12%) 0.62%
Return on invested capital (0.73%) (2.26%) 1.22%

Growth

Metric BRSP KREF Reit Mortgage median
Revenue growth (TTM) 4.70% (24.25%) 4.70%
EPS growth (last fiscal year) 75.24% (652.63%) —
Revenue growth, 5-year CAGR (6.15%) (1.15%) 14.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BRSP KREF Reit Mortgage median
Debt to equity 2.75 4.36 3.30
Current ratio 0.83 0.00 1.00
Net debt to EBITDA (182.35) (90.61) 18.31

Dividend

Metric BRSP KREF Reit Mortgage median
Dividend yield 12.03% 11.79% 13.05%
Payout ratio 8.00 2.87 1.24

Size

Metric BRSP KREF Reit Mortgage median
Market cap 517.48m 369.41m 517.48m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack